Mark Minervini: Investing Guru Explains How To Build Wealth & Make Millions | Alissa Coram | IBD
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- čas přidán 26. 01. 2022
- Everyone wants to know how to become a millionaire, right? Well, making money in the stock market is just one piece of the puzzle when it comes to building wealth. Investing guru Mark Minervini, an author and two-time U.S. investing champion, shared with me how he turned several thousands dollars into millions in just a few years to build his own empire. But it's one thing to make a lot of money - you have to be able to keep it! Mark explains some key tips for building wealth so you can make and keep your own millions, too. And let me know in the comments: what's your best wealth-building tip?
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Wealth building habits
1)Create value.Get to 99.5+ percentile at some skill.People will pay to learn from you
2)Journal.Write down every single monetary transaction in a book.
3)Maintain a fixed threshold amount.Every now and then save or invest the excess.
4) Don't buy stuff to impress anyone
Only buy stuff you really need.Here do not compromise on the quality,but do not spend even a small amount on something that's unnecessary
5)Have an optimistic outlook on life.See every hurdle as a necessary step that you needed to learn from to reach your goal
Absolutely love these tips! Thanks so much for sharing. I think #5 can't be reiterated enough. Having a positive outlook is everything!
Mark’s a living legend 🤙🏼
Was great to be able to do this video with him!
Great interview Alissa. The wisdom from Mark is always gold.
Totally agree! Thanks, Nicole☺️
Great interview with a true legend !!!
#1 rule take small losses
# 2 don’t add to losers
#3 let winners run until they don’t run anymore.
Thanks for watching, Jim! Totally agree with these rules you've laid out here!
Rule No 3 - Never get bold while running cold.
My two favorite people in the world. Thanks for doing this. Sage advise.
Wow, that's some high praise right there! Thanks, Rohit :) Looking forward to doing another video with Mark sometime in the future!
So much appreciated about the interview
By far it was so useful
Nice interview Ali, love the look of your home, very tasteful look to it. You are wealthy when you are healthy, have an attitude of gratitude, and have passion for what you do. I think Mark is a great example of that…
I love the mindset of health, gratitude and passion - very well said! Mark is a great example. And thank you for the compliment about the home decor, interior design is a bit of a passion of mine :)
Thank you once again Ali for another wonderful interview with these people we all look up to. So interesting, please keep em coming!!
Happy to hear you found it interesting! Will for sure keep ‘em coming! :)
Excellent interview Alissa and would love to see more of these type of interviews. Appreciate your effort at IBD.
Thank you so much for your kind words! Would love to share more tips like this from subject-matter experts. Stay tuned, thanks for your support!
Love Mark! And, love your CZcams videos, Alissa! Keep them coming!
Thanks for watching, Cody!
"Only lend what I'm willing to give" 90% of the loans that I've given, I've never got back! So true! I've had people ask for more money, when it was time to pay up..!
Btw.. I stopped loaning money out years ago!
I certainly appreciate the reiteration of the "cash basis" thinking...I adopted this as soon as I had enough money to pay off all credit debt save for mortgage and student loans. Those of us who had parents or grandparents who grew up in the depression were lucky to observe how they acquired wealth, and the things they were willing to live without. I have never bought a $250 or $1000 purse. I have either purchased building materials and tools to renovate a house (which I started during graduate school) or later, I'd buy stock.
Great ypu have your channel. Thanks a lot for the content.
Glad you enjoy it! More investing videos coming soon :)
Fantastic interview with the G.O.A.T! Great questions Alissa.
Thank you, Ashish! Had a lot of fun doing this with Mark and look forward to collaborating with him in the future.
great talk Alissa & Mark
It’s always inspiring to hear from Mark
Agreed! Thank you for watching.
Great interview with an absolute legend. I love Mark M
Thank you for watching, Yoger!
Thank you for sharing this, Alissa. You are a great interviewer.
Aw thank you, Rifqon! Glad you liked it👍
It's like chess....Defense - offense move! Thank u!🎉
Great Interview Alissa! Mark is my Teacher.
Here's what I have learned today
1. You have to be Patient.
2. Make a list of what you want and then spend the next 20 years getting it slowly piece by piece.
3. Don't spend big unless you can afford in cash.
4. Only use Credit when necessary.
5. Never spent more than 10% on a highly depreciable asset.
6. Never touch your trading account. Treat your trading account like your balance is at zero. You will not die or the world will not come to an end.
7. Only lend when you are willing to give.
8. Don't lose Big. That's the real key
9. Always get odds on your money.
10. Risk should be always less than the Reward.
Thanks for summarizing all of Mark's points, Aditya! Great tips to commit to memory.
@@AlissaCoramIBD don't forget compounding is the sixth wonder!
Excellent interview, great questions to the great man. A channel in uptrend Alissa. Thanks to both. 👍
Aw thank you, Tony! Really glad you enjoyed it :)
My uncle has been encouraging me to invest. He quit his day job and trades stocks. I literally watched him spend 60k into a stock that he says swings up and down. I wont say the name, but they make electric cars.
He sold it the next day and my eyes are wide open. I said you just made that much money from really doing nothing??? He said yup, and I will take the original amount plus profit and wait for it to drop again and repeat.
He showed me a graph showing a fairly consistent pattern of going up and down. He said this is how you make serious money.
Hey Michael! Focusing on stocks that are pulling back in an overall uptrend and selling them, or at least taking partial profits, into strength is a good way to go! Sounds like that’s similar to what your uncle did. Just make sure you’re not making too big of bets by putting your entire portfolio into one name. We usually go with 10 full positions at most, with each being 10% of your portfolio. Using a 10% stop loss, you’re only risking 1% of your total portfolio value on any one single trade!
I love how you present IBD Live almost every single day, Alissa. Congratulations on your new channel! Selling into strength was one of the game changing tips for building wealth, that I learnt recently before the current market correction
Thank you for reaching out! I love hosting IBD Live, glad you enjoy watching :) Definitely agree about selling into strength! Total game changer.
Some of the best advice I have heard for the young and old!
Great to hear! Thanks for watching!
Mark can look like a smart and strict man like the professor. But he is kind and sweet to Alissa. We can see how popular and respected Alissa is. She probably has a lot of great friends.
Aw, this puts a smile on my face! Very nice of you to say, Sigurd. When it comes to respect, I firmly believe you have to give it in order to receive it! I'm fortunate to be surrounded by such great friends, colleagues and mentors like Mark.
My best tip is 7% stop loss be in cash when market in correction and not increade my expousure when Im loosing
Awesome, all of those are in line with IBD thinking! :) Thanks for sharing, Sanchez!
8:00 Asymmetric leverage
Nice video alissa
Thank you for watching!
Great interview with an absolute legend. I love Mark M. You always seem to ask Mark great questions. I really enjoyed the back and forth between you and Mark on IBD LIve last week. Keep it up!
Thanks for this, Mongoose! It's always a pleasure working with Mark. Was very excited to do this with him because I know it's not like the typical interviews he does. Looking forward to getting him back on IBD Live as well!
Really nice interview, Ali. I'm a big fan of Mark and your video was informative and fun. I wish you all the success in your new channel.
Thank you so much, Daniel! Glad to hear it was informative and fun - that combo is a big goal of mine! Your support and kind words are very appreciated!!
These shorter time frame vids are a good idea. Nice work
Glad you like them! More to come :)
Great Job Alissa! You are getting really good with your interviewing skills. Mark's story about lending money hits home... Do not "lend" money as it is rarely paid back!
Thank you so much, Marty!! I agree, so many great nuggets of wisdom from this interview!
The biggest lesson I've learnt from Mark is that we all are capable of far more than we imagine.I stopped listening to losers who said it can't be done.I have done it.There's a way,infact there's millions of ways.
There's so much abundance
Well said! Mark is definitely an inspiring guy. But even better, he has practical tips to back up all the motivational words! Thanks for watching.
Ali, could you give some simple examples of what Mark means when he said don't loose big that you put a 50 into a 500 pot how do you apply into investing
Don’t make risky investments and keep your losses small. Example - buying a meme stock like GME when it was at sky-high levels over 400 a share and holding as it cratered. Several mistakes - first is buying a speculative stock at a massively extended level, second is failing to cut losses when the trade started to head south.
Very intelligent sir
Side note - poker players do not view poker as gambling - prepared skill - always leaning on the edge....no edge? that's gambling...
Good point!
"Buy low and sell high".
Great advice!👏👏👏👏$$
Mark is awesome! Thanks for watching.
Thanks for watching, everyone! Now tell me - what's the best wealth-building advice you've ever received? Let me know in the comments, I'm eager to hear!
Not sure if It's the best advice, but some good advice: Split your income into sections. A certain percent placed in an IRA, some in a "Just in case" savings account, money to live on, entertainment, etc..
This said, I trade for a living, so my savings account is more like a money market account. I'll pull profits out if needed.
Good interview, thoughts on lumn with 25 cent div and gen with 15 cent div, thanks LOBSTER LAB MEDIA
Off to a great start!!
Thanks so much, LT!
My tip is to save money for something big. I cut my own hair to save time and money unless going to big event. I do not like buying coffee at Starbucks, going out to eat, buying things that depreciate a lot. Then I focus on buying things that could go up in value like gold charm underpriced at garage sale. Or recently a S2000 car with 9,700 miles. Paid top dollar 3 years ago and it went up 40% so far. The money would have gone up a lot more in a good stock so I might sell it before it goes up to my goal of $250k sell for $38k and stop paying insurance. Now I’m saving for a beach house. I may never get enough but it will be a why I don’t spend money on furniture or Starbucks or haircuts or excessive new clothes and other things.
Thanks for your comment, Clay! Every little bit can help. Focusing on a big goal, like a beach house, is a great motivator! Best of luck to you.
What is mark Minervini's net worth?
Let's talk about cup with handle stuff. That must be a great joke these days?